MILLER INDUSTRIES, INC. (NYSE:MLR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry into a Material Definitive Agreement. |
On April 5, 2017, Miller Industries, Inc. (the Company)
and certain of its subsidiaries entered into an Amended and
Restated Loan Agreement (the Amended Loan Agreement) with
First Tennessee Bank National Association (First
Tennessee). The Amended Loan Agreement amends and restates
the loan agreement governing the Companys existing $50.0 million
unsecured revolving credit facility (the Credit Facility)
with First Tennessee (the Prior Loan Agreement) to renew
and extend the maturity date of the Credit Facility from March
31, 2018 to May 31, 2019. In connection with the execution and
delivery of the Amended Loan Agreement, the Company delivered to
First Tennessee that certain Amended and Restated Master
Revolving Credit Note, dated as of April 5, 2017 (the Amended
Note), in the principal amount of $50.0 million, with a
maturity date of May 31, 2019. All other material terms and
conditions of the Prior Loan Agreement remain unchanged.
The foregoing description of the Amended Loan Agreement and the
Amended Note is qualified in its entirety by reference to the
Amended Loan Agreement and the Amended Note, copies of which are
attached hereto as Exhibit 10.1 and 10.2, respectively, to this
Current Report on Form 8-K and are incorporated by reference
herein.
| Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information required by Item 2.03 relating to the Amended
Loan Agreement and the Amended Note is contained in Item 1.01 of
this Current Report on Form 8-K and is incorporated herein by
reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit No. | Exhibit Description | |
| 10.1 |
Amended and Restated Loan Agreement, dated as of April 5, |
|
| 10.2 |
Amended and Restated Master Revolving Credit Note dated as of April 5, 2017 from the Registrant payable to First Tennessee Bank National Association |
About MILLER INDUSTRIES, INC. (NYSE:MLR)
Miller Industries, Inc. is a manufacturer of towing and recovery equipment. The Company manufactures the bodies of wreckers and car carriers, which are installed on truck chassis manufactured by third parties. The Company purchases truck chassis for resale to its customers. The Company also manufactures vehicle transport trailers. The Company’s products are sold through independent distributors that serve approximately 50 states, Canada and Mexico, and other foreign markets, including Europe, the Pacific Rim, the Middle East, South America and Africa, and through prime contractors to governmental entities. The Company’s products are offered under various brands, including Century, Vulcan, Challenger, Holmes, Champion, Chevron, Eagle, Titan, Jige and Boniface. The Company’s wreckers are used to recover and tow disabled vehicles and other equipment, and range in type from the conventional tow truck to large recovery vehicles with approximately 70-ton lifting capacities. MILLER INDUSTRIES, INC. (NYSE:MLR) Recent Trading Information
MILLER INDUSTRIES, INC. (NYSE:MLR) closed its last trading session up +0.15 at 24.00 with 24,268 shares trading hands.